Private sector lender YES Bank on Friday reported net profit of Rs 129 crore for the second quarter ended September 30, 2020, as compared to net loss of Rs 600 crore in Q2 FY20. On the quarter-on-quarter (QoQ), profit jumped 2.8 times from Rs 45.44 crore during June quarter of 2020. The bank reported improvement in asset quality and decline in provisions during September quarter of the current fiscal.
Net interest income (NII), the difference between interest earned and interest expended, fell by 9.7 per cent to Rs 1,973.4 crore compared to Rs 2,186 crore in Q2 FY20. Net interest margin was up by 10 basis points QoQ to 3.1 per cent.
Ahead of Q2 results, shares of YES Bank ended 4.95 per cent higher at Rs 13.35, against the previous closing price of Rs 12.72 on the BSE.